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Do you know what are the different mindsets in entrepreneurship?
In today’s podcast episode, I walk through the five different mindsets between a 4-figure and a 6-figure mindset. If you wonder why you are not leveling up as you want yet, this episode is for you.
These are observations I have made in my life based on my experience. I have spoken to so many people through my free communities and paid communities.
I find it’s so easy to recognize who is going to be successful and who is not. And I hope by sharing these 5 key things will help you implement changes in your business.
If you are interested to listen, go ahead and check out the episode now. Otherwise, keep scrolling to read more.
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My Key Observations on Different Mindsets
Today is a fresh episode. I want to talk about the key observations that I’ve made.
These observations are between people who stay stuck forever in business versus those who ended up making $10k months.
Not only that, these people who end up making $10k are also the ones heading into six figures or seven-figure business.
Successful Person vs. Non-Successful Person
As someone who has worked with a handful of students, it’s pretty clear to me now who’s going to be successful and who’s not going to be successful.
Through my interactions there, it’s clear to me what are the differences between these two types of people. Let’s just dive into it.
Mindset #1: Be Resourceful
This is something all entrepreneurs should have. The reason why successful people are successful is because of their different mindsets.
Something that my mentors noticed in me is my resourcefulness. And I think every business owner should be hungry to make things happen.
I also don’t inconvenience other people with my problems. And I always try to solve my problems first. And if I can’t solve it, I’ll go to my mentors.
But I don’t just go to them without explaining the course of action that I took. I told them the problem that I was trying to solve and what didn’t work. And then reframe my question in a way that makes it worth their while to help me.
That’s one of the different mindsets that you must have as an entrepreneur.
No Free Handouts in Business
If you can’t solve your problem with Google or free YouTube videos, then that says a lot about you as an entrepreneur. It says a lot about you.
Because what you have to understand is there are no free handouts in business. This is one of the different mindsets that you should know.
I think that there are no stupid questions. If you have a question, bring it up. But just know that you will be judged by the quality of questions that you ask. Because of the quality of questions matters.
You can’t just play the victim role all the time. Or, sit there and thinking that someone is going to rescue you. No one is going to rescue you. You have to rescue yourself.
You cannot sit there and cry about things. You cannot sit there and shift the blame on other people. You cannot sit there and throw your questions to every single person. You cannot try to crowdsource your success without any evidence that you have tried to implement things on your own.
The quality of your questions matter. Where you spend your time on matters. What you’re focusing on matters. That’s one of the different mindsets that make successful people stand out.
Mindset #2: Having an Investment Mindset
It’s kind of contradictory to the first rule. But as much as being resourceful is helpful, it doesn’t mean that you should DIY your entire business.
That’s the reason why you are still stuck. No matter how many Youtube videos you’ve watched, you will not improve if you DIY everything. The reason why I can elevate my mind to 6 or 7 figure is because I invest.
This is one of the different mindsets that you should have. Don’t get scared of investing in circles and mentors that can elevate you.
The Confidence Mindset
You should know that you are going to make your money back. This is a confidence mindset. Because there is a huge difference between the support you get in a paid program. When compared to free content, you get so much more in paid support.
Because when you have an investment mindset, you can distinguish so many things. You can speed up your results. Why? Because you’re surrounding yourself with people who what they are doing.
Mindset #3: How You Perceive Your Investments
What I have noticed is that quality programs aren’t defined by how much volume of lessons or modules that they have.
Most of the high-quality programs that I’ve invested in actually have way fewer lessons. However, each lesson and module are so streamlined that it’s easy to get results. I noticed that’s the difference between different programs at different price points.
People who have certain expectations are because they value their investment based on volume. Instead of valuing it off of the actual value and the actual quality. These are the type of people who are stuck in four figures. They’re the ones that are complaining about how there’s not enough lessons or modules.
A quality program is not defined by how many things there are inside. It’s defined by how succinct it is. It is defined by how efficient it is. It is defined by how you’re able to get to the result fast.
So, remember this mindset difference between a 4-figure mindset and a 6-figure mindset.
Someone with 6-figure mindset values quality and efficiency. Whereas the 4-figure mindset is constantly asking the wrong questions.
Mindset #4: Be a Leader, Not a Follower
When you’re starting, you might be modeling the best practices of other people. But there comes to a place where you need to come up with your unique strategies.
As you come up with your own unique strategies, you might also get copied. But that comes with the territory of you being successful as you grow.
However, that’s how you get invited to speaking events. That’s how you get recognized as an expert. And people can see through that. People know who the OGs are. People know who the unique people are in the industry.
The biggest thing that prevents people from big breaking past 4-figures is that they are so afraid to make a mistake. They’re so afraid to experiment. They’re not creative. But you need to understand that creativity in business is so important.
No, I’m not talking about creativity in terms of how you whip up your Canva graphics. I’m talking about the creativity of testing strategies out. I’m talking about the creativity of making things up. And always ask yourself, “How can I piece this together?”
You need to be unique. You need to position yourself as the authority. You need to come up with unique strategies and frameworks.
Mindset #5: Take 100% Responsibility of Your Success
My success does not depend on my coach. It does not depend on the program I invested in. It’s on me to make things happen. It’s taking that sense of ownership.
Let’s say you scale up to a team and you start hiring team members. When things don’t work out, you don’t shift the blame on your team members. And, that’s taking 100% responsibility for your success.
When you start shifting at each level, you are going to doubt yourself. You are going to question your identity. Because you’re shifting and growing. Your identity is being challenged.
Why?
Because the identity of a 4-figure entrepreneur is different from the identity of a 6 or 7 figure entrepreneur. Those are identity shifts. Those challenges are not fun. The process is not fun but the result is great.
The result is what you like to put in your Instagram bio. But the journey to getting there is not pretty. You are going to face a lot of things that you never faced before. You are going to question a lot of things, things in your business will break. You just have to face the brakes and fix them.
In a Nutshell
For a lot of people, when things start to break, they start to panic. And then they pivot and change everything. They change their goals, they lower their goals. They change their strategies and don’t stick to something.
You can’t do that. You cannot become inconsistent at something just because you’re pivoting out of panic. Because it doesn’t make sense. What you need to do is rebuild your systems. You need to rebuild your infrastructure. You need to think differently. Because that’s how you grow and elevate.
I hope this podcast episode should be able to help you to understand the 5 different mindsets. Let me know what do you think!
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HERE'S THE KEY TAKEAWAYS OF THIS EPISODE:
[02:47] I talk about the differences between someone who’s going to be successful and someone who’s not going to be successful.
[10:16] I talk about the victim mentality that most rookie entrepreneurs have.
[23:47] Understanding the investment mindset and why you can’t hack your way to a successful business.
[28:07] How to tell if someone has a good mindset and good chances of being successful versus someone who probably won’t.
[33:55] Why you need to be a leader in the space and not a follower.
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